US Banks Race against Time for ISO 20022 as Challenges and Compliance Deadlines Loom

U.S. Banks Brace for ISO 20022: Challenges and Compliance Deadlines Loom U.S. banks are racing against time to adopt ISO 20022 by 2025, facing technical and strategic hurdles. This standard promises to transform global financial messaging. March 1 – BNN Correspondents As the financial industry gears up for the implementation of ISO 20022 in March 2025, U.S. banks are facing a tight race against time. This international financing messaging standard aims to unify and simplify global banking communications, but not without significant hurdles for many institutions. With over a third of banks predicting they’ll miss the deadline, the pressure is mounting…